Tax Reform Law Chart: Prior Law vs. New Law

This chart represents the analysis put together by the California Association of Realtors.

NO MORE PERSONAL DEDUCTIONS!   However, Standard deduction changed to $12,000 for individuals and $24,000 for couples

HOME EQUITY LOAN DEDUCTIONS ELIMINATED unless the proceeds are used to substantially improve property

Share This  Facebooktwittergoogle_plusredditpinterestlinkedinmail